Establish a financial mechanism between Iran and Iraq
According to Iraqi officials, the financial mechanism allows Iraq to buy electricity and gas from Iran in exchange for paying the dinar. Iran can also use the proceeds of these transactions to buy goods.
According to Iran's Stone Exhibition, Iraq, like Europe, has created a new financial mechanism to circumvent US sanctions so that it can continue to buy electricity and gas from Iran.
According to Iraqi officials, the financial mechanism allows Iraq to buy electricity and gas in exchange for paying Iranian dinars. Iran can also use the proceeds of these transactions to buy goods.
"The mechanism has been the result of months of negotiations between Iraqi, Iranian and US officials," a senior Iraqi official said.
According to him, Iraq is depositing gas money bought from Iran in the form of a dinar into a bank account inside its territory. Iran cannot withdraw money from this account, but it can use it to buy goods from outside Iraq.
* Ilna
